Morningstar Investment Services LLC Purchases New Stake in Core Laboratories (NYSE:CLB)

Morningstar Investment Services LLC purchased a new stake in Core Laboratories (NYSE:CLB) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 6,103 shares of the oil and gas company’s stock, valued at approximately $230,000.

A number of other institutional investors have also recently bought and sold shares of CLB. Massachusetts Financial Services Co. MA boosted its stake in shares of Core Laboratories by 11.4% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 4,718,824 shares of the oil and gas company’s stock worth $219,991,000 after acquiring an additional 482,459 shares during the period. Earnest Partners LLC increased its holdings in Core Laboratories by 1.9% in the 4th quarter. Earnest Partners LLC now owns 2,934,116 shares of the oil and gas company’s stock worth $110,528,000 after purchasing an additional 55,653 shares in the last quarter. Select Equity Group L.P. increased its holdings in Core Laboratories by 31.7% in the 3rd quarter. Select Equity Group L.P. now owns 1,542,440 shares of the oil and gas company’s stock worth $71,909,000 after purchasing an additional 371,303 shares in the last quarter. State Street Corp increased its holdings in Core Laboratories by 1.5% in the 4th quarter. State Street Corp now owns 754,656 shares of the oil and gas company’s stock worth $28,457,000 after purchasing an additional 11,352 shares in the last quarter. Finally, Disciplined Growth Investors Inc. MN increased its holdings in Core Laboratories by 2.5% in the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 747,748 shares of the oil and gas company’s stock worth $34,860,000 after purchasing an additional 18,116 shares in the last quarter.

In other news, COO Lawrence Bruno acquired 3,000 shares of the business’s stock in a transaction on Monday, February 3rd. The stock was bought at an average price of $34.86 per share, with a total value of $104,580.00. Following the completion of the acquisition, the chief operating officer now owns 8,799 shares of the company’s stock, valued at $306,733.14. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.00% of the company’s stock.

CLB traded down $0.11 during mid-day trading on Friday, reaching $26.84. 1,797,361 shares of the company traded hands, compared to its average volume of 776,274. The stock has a market capitalization of $1.26 billion, a P/E ratio of 11.77, a P/E/G ratio of 5.34 and a beta of 1.84. The company has a quick ratio of 1.53, a current ratio of 1.98 and a debt-to-equity ratio of 1.68. The company’s fifty day moving average price is $35.77 and its 200-day moving average price is $41.93. Core Laboratories has a 52-week low of $25.79 and a 52-week high of $75.63.

Core Laboratories (NYSE:CLB) last issued its quarterly earnings results on Wednesday, January 29th. The oil and gas company reported $0.38 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.01. Core Laboratories had a return on equity of 42.25% and a net margin of 15.26%. The business had revenue of $157.00 million during the quarter, compared to analyst estimates of $155.31 million. During the same quarter in the prior year, the business posted $0.48 EPS. Core Laboratories’s revenue for the quarter was down 9.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Core Laboratories will post 1.76 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 24th were paid a $0.25 dividend. The ex-dividend date was Thursday, January 23rd. This represents a $1.00 annualized dividend and a yield of 3.73%. Core Laboratories’s dividend payout ratio (DPR) is 55.87%.

A number of equities analysts have issued reports on CLB shares. Citigroup upped their target price on Core Laboratories from $44.00 to $46.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. Stifel Nicolaus cut Core Laboratories from a “buy” rating to a “hold” rating and decreased their price target for the company from $50.00 to $40.00 in a research note on Thursday, January 2nd. Cowen decreased their price target on Core Laboratories from $39.00 to $36.00 and set a “market perform” rating for the company in a research note on Friday, January 31st. JPMorgan Chase & Co. decreased their price target on Core Laboratories from $50.00 to $47.00 and set a “neutral” rating for the company in a research note on Tuesday, December 31st. Finally, Sanford C. Bernstein began coverage on Core Laboratories in a research note on Monday, January 13th. They issued a “market perform” rating and a $38.80 price target for the company. Eleven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Core Laboratories presently has an average rating of “Hold” and an average target price of $50.51.

Core Laboratories Profile

Core Laboratories N.V. provides reservoir description and production enhancement services and products to the oil and gas industry in the United States, Canada, and internationally. The company operates in two segments, Reservoir Description and Production Enhancement segments. The Reservoir Description segment includes the characterization of petroleum reservoir rock, fluid, and gas samples to enhance production and improve recovery of oil and gas from its clients' reservoirs.

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Institutional Ownership by Quarter for Core Laboratories (NYSE:CLB)

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